For more than a century, the Jewish Federation of Greater Philadelphia (a large nonprofit organization) has been proud to Carry the Light by embracing three key roles: convening the community, encouraging and stewarding the generosity of our donors, and making grants to meet critical needs, locally, in Israel and around the world.
By mobilizing our combined resources and strengthening our values and traditions, we ensure meaningful Jewish journeys throughout our communities.
SERVING VULNERABLE POPULATIONS
We make a vital difference in Jewish lives, addressing the full range of social service needs and providing lifesaving humanitarian relief. When a child needs an education or a family loses their income, Jewish Federation is there. We make sure that Holocaust Survivors are not deserted, that the hungry are fed, and people with disabilities have assistance. Jewish Federation provides a safety net and a caring community.
FACILITATING COMMUNITY ENGAGEMENT
Because we truly believe we are stronger together, we connect Jews from different generations and backgrounds to celebrate our shared history and peoplehood. Together with our network of agencies, we build welcoming, vibrant Jewish communities and give people of all ages access to Jewish experiences and to each other.
PROMOTING JEWISH LIFE AND LEARNING
From schools to camps to synagogues, from Israel trips to cultural events, the Jewish Federation is woven into the fabric of Jewish life. Every community member, no matter their interests, affiliation, neighborhood or orientation, can find fun, inspiration and opportunities for growth through formal and informal Jewish education experiences.
As a key member of the nonprofit’s Executive team, the CFO will report to the CEO and Board Treasurer and will have direct access to the Board of Directors and will assume an operational and strategic role in the overall financial management of the Jewish Federation. Partnering with the Executive team and the Board, he/she will provide the financial acumen and leadership needed to grow the organizations market position and drive performance improvement, working capital, capital allocation, and operational metrics. Functional responsibilities will include financial / operational reporting and internal control, cash management, financial planning and analysis, risk management and cost control. This will include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve assets, donations, pledges and report accurate financial results. The CFO will oversee an endowment of approximately $300M and an annual budget of approximately $50M.
Strategy & Executive Leadership
- Serve as a Financial and Strategic thought partner to the CEO, Board and members of the senior management team to help shape the overall financial direction of the Jewish Federation.
- Advise CEO and the board as to the financial ramifications of operational alternatives, capital appropriations, control issues, reporting requirements, cost reduction evaluations, new business evaluations and risk management to assure sound business decisions are made.
- Work with team to drive donor dollars and be a strategic partner in growing the business which requires the raising of additional funds.
- Manage the Jewish Federation’s donor-advised fund (DAF) program as it relates to the compliance and management of the program.
- Oversee the organization’s Accounting and Finance function, Investment Committee, Audit Committee, Finance Committee, Real Estate Committee, operating metrics and driving increased performance at all levels.
- Evaluate, manage and motivate all direct reports with a strong emphasis on planning, organization, preparation, follow-up and internal communication.
- Play a strategic role as a proactive advisor/coach to the leadership team (with support from the Board) on infrastructure required to support the continued growth of the overall business.
- Lead the strategic discussion regarding investments in people, technology and processes necessary to achieve fundraising goals.
- Build strong partnerships with the Executive Team and work together on projects that relate to the ways we hire, reward and retain employees.
- Assess the organizations current ERP system and programs to determine compliance / risks and adequacy based on reporting requirements and strategic goals.
Core Finance and Accounting
- Direct the timely preparation of all financial reports, including income statements, (on a monthly, quarterly and annual basis), balance sheet, and cash flow statements.
- Lead the annual budget planning process and tax return preparation which will include Form 990.
- Ensure that projected cash flows and liquidity position maximize debt reduction while meeting operating cash needs.
- Prepare budgets and forecasts and develop appropriate analytical tools to help proactively drive the organizations results.
- Provide direction and ultimate oversight of the annual audit process.
YEAR ONE KEY SUCCESS FACTORS
The CFO will be responsible for and evaluated on their success in the following key areas:
- As a trusted advisor across the organization bring a forward-looking and proactive stance to managing the organization’s finances by providing ongoing input and economic analyses to the CEO and Board including recommendations on capital allocation, cash flow management, and new-capability development. The CFO will be an integral part of the management team and embrace the Jewish Federations core values while building a strong working relationship with the CEO and the rest of the leadership team and stakeholders.
- Quickly gain an understanding of the Jewish Federation’s mission, return on investment of competing initiatives, and key operational metrics to develop and establish accurate and timely reporting to the CEO and the Board.
- Revisit pricing structure of endowment and DAF management.
- Drive an evaluation of whether the organization should continue with a Pension Plan or move to a Defined Contribution Plan with a match.
- Learn about each department and form relationships with the heads in order to establish credibility and build the foundation for a partnership based on trust and support.
- Ensure financial systems and processes are in place to accurately reflect and improve the performance of the Jewish Federation.
- Empower leadership across the organization with actionable insights drawn from accurate data to address team pain points and opportunities for improvement.
- Utilize key operational metrics to establish accurate and timely reporting to CEO, Board and lenders.
- Evaluate, coach and develop finance and accounting team and build out a more robust FP&A function.
- Take a leadership role in advancing “flash” financial and operational reporting to assist management and key stakeholders in monitoring the performance and health of the organization.
The ideal candidate will be a hard-working, player/coach with excellent judgment, who exudes the confidence to work together with the board, management, donors and volunteers and is focused on successfully growing the business. An experienced leader, our successful CFO candidate will have a track record of optimizing team performance and driving the overall financial, strategic and operational performance in their prior roles.
Previous experience in a complex for profit or not for profit organization is preferred, along with a proven track record of driving process improvement in companies that are growing rapidly. The CFO will be a strategic leader capable of managing a large complex not for profit organization while enhancing existing processes and internal controls within the organization. The successful candidate will possess the business acumen, executive presence and empathy to serve as a key decision maker, and as a trusted advisor and partner to the CEO and management team, as well as its Board and outside constituents.
EDUCATION AND EXPERIENCE
The ideal candidate will have a demonstrated track record as a successful CFO in a complex growing business or organization. Required experience includes:
- An undergraduate degree is necessary, while an advanced degree or additional designations/certifications would be advantageous (MBA/CPA).
- 15 years of success in progressively responsible finance roles, including 5 years in a top financial leadership position.
- Experience working within a formal leadership team and Board structure.
- Experience working with businesses that have rigorous reporting requirements (detailed weekly, monthly and quarterly financial statements as well as operational dashboards).
- Knowledge and familiarity with leveraged lending requirements, including affirmative and negative covenants, reporting, etc.
- Experience evaluating and maximizing current ERP systems while implementing and managing all financial and back-office systems.
- Experience leading decisions on capital planning and expenditures with data to support mission of the organization and the ability to serve as the financial gatekeeper on capital expenditure decisions.
- Additional key characteristics include:
- Operates with high integrity, builds trust, quickly wins and sustains credibility in relationships with others; personally approachable.
- A background in public accounting is a plus
- Strong leadership skills with the ability to make complex decisions.
- Results oriented and achievement motivated with a client service mentality
- A strong communicator who can be the financial face of the organization on both the inside and outside world.
Compensation will be market and situation-based, corresponding to the experience level, credentials, and personal characteristics of the candidate. The package will include a base salary and annual bonus opportunity, as well as a full range of employee benefits.
NON – DISCRIMINATION
Our client and CBIZ CMF firmly support the principle and philosophy of equal opportunity for all individuals, regardless of age, race, gender, creed, national origin, disability, veteran status or any other protected category pursuant to applicable federal, state or local law.
To apply please send cover letter and resume to:
520 Walnut St, Suite 1475
Philadelphia, PA 19106
Qualifications: Bachelor’s Degree + Advanced Degree Preferred and 10+ years of experience.